Chip Manufacturer AMD Announces Job Losses

In a announcement made to the Securities and Exchange Commission (SEC) chip manufacturer AMD attributes job losses to poor figures in this quarter.

Prior to publishing its figures for the quarter April 17, AMD reported to the SEC that its turnover had dropped by 15 percent compared to Q4 2007. AMD attributes this to poor results across all of its divisions. Turnover had been below the pessimistic forecast AMD had published.

AMD has now announced job losses to compensate for these figures. The company, which is located in Sunnyvale, CA, currently employs some 16,500 staff world wide. Ten percent of staff will be made redundant by the end of Q3. The manufacturer has budgeted the costs this involves for Q2, although AMD has told the SEC that it is currently unable to calculate the exact cost of the redundancies.